If your not familiar with Matt Taibbi, put him on your must read list. Matt is a writer for Rolling Stone and has written some of the best articles over the last year about what really happened with the bailouts. Who caused the economic crash, who made the money, and where did the money go.

His latest article “Wall Street’s Bailout Hustle“, is not only informative but entertaining. Telling the exact way a con man works his mark until he’s broken and confused. One thing is clear after reading Taibbi’s work. This was not a bunch of bad decision that went south, these banks absolutely knew what they were doing, and they are already at it again trying to creating a even bigger bubble to soak up more money.

“In fact, the FED became not just a source of emergency borrowing that enabled Goldman and Morgan Stanley to stave off disaster – it became a source of long term guaranteed income. Borrowing at zero percent interest, banks like Goldman now had virtually infinite ways to make money. In one of the most common maneuvers they simply took the money they borrowed from the government at zero percent and lent it back to the government by buying Treasury bills that paid interest of three or four percent. It was basically a license to print money – no different then attaching an ATM to the side of the Federal Reserve.

A lot of people are very upset about the rapidly increasing U.S. national debt these days and they are demanding a solution. What they don’t realize is that there simply is not a solution under the current U.S. financial system. It is now mathematically impossible for the U.S. government to pay off the U.S. national debt.

You see, the truth is that the U.S. government now owes more dollars than actually exist. If the U.S. government went out today and took every single penny from every single American bank, business and taxpayer, they still would not be able to pay off the national debt. And if they did that, obviously American society would stop functioning because nobody would have any money to buy or sell anything.

Here’s a look at reality. Don’t be fooled about how well the recovery is going. Every action the FED takes has consequences that will come back at some point.

The Dallas FED estimated the financial obligations of the US government at 99 trillion dollars. The head of the TARP program estimated the bailout cost at 24 trillion dollars. Totaled together the US has in the neighborhood of 120 trillion dollars of current and future obligations on an annual revenue of around 2 trillion dollars which is falling due to high unemployment, higher state and local taxes and fees and lower wages.

Cutting that down to size, imagine earning 200,000 a year and having a debt of 12 million dollars. In short, the US dollar has become a token of an unpayable debt and thus the anchor of the entire global financial system is a ponzi fraud.

It becomes impossible to compute the value of anything as measured in a fraudulent currency that represents an unpayable debt.

I go through a lot of news articles every month. I archive what i think is important into 71 different categories. But there are those articles that make a lasting impression and having a wider effect then just the day the story was printed.

I put these stories into my MUST READ folder. I wish I had the time or the space here to explain why I believe each of these stories is so important but I don’t. Hopefully something on this list will get you thinking.

The FBI Deputizes Business … an old article from 2008 that I just became aware of.This article talks about InfraGard. 23,000 representatives of private industry who are working quietly with the FBI and the Department of Homeland Security.

Job Growth Lacking in the Private Sector … The admission from main stream media that the American economy has added virtually no jobs in the private sector over a 10-year period. All economic growth has be in the government.

John Conyers “why would I read health care bill” … This one absolutely floors me. A member of congress say why should be read the bills? because it’s your job …. and the fact that he needs lawyers to tell him what the bill means proves that congressmen aren’t writing these bills. They’re being written by lawyers of the lobbyist and then handed to congress to pass them. That’s enough proof for me right there that you should oppose the health reform bill.

Two executed as China fraud crackdown continues … I love this one. China executed two people for defrauding hundreds of investors out of millions of yuan in beauty parlour, cosmetics and property scams. So Bank CEO’s swindle taxpayers out of trillions of dollars and we give them millions in bonus …. you make a bad business deal and China and your dead!

Judge Orders Fed To Disclose Who Received Bailout Trillions … Bloomberg has sued the FED twice in the last year to get them to disclose where the bailout money went. Now A New York District Judge has ordered the Federal Reserve to disclose the destination of around $2 trillion dollars in bailout funds after the Fed failed to convince the Judge that the records should be exempt from the Freedom of Information Act.

The Man Who Sells America’s I.O.U.’s … The auction of United States Treasury securities, and $32 billion has just been sold in a blink. It was another successful operation for Van Zeck, the commissioner of the public debt, who has the world’s biggest credit card.

Vital Signs and the “Fix” … As we approach the middle of the summer, 2009, it is of utmost importance to be able to slice deftly through the heavy propaganda fog that the government is pumping out through its mouthpiece the media.

Flu shot or get fired … Workers at Capital Region hospitals are going to have to get a flu shot this year or face losing their jobs …. This is a good one to get you thinking, what if this was the policy at your office?

Study Says World’s Stocks Controlled by Select Few … A recent analysis of the 2007 financial markets of 48 countries has revealed that the world’s finances are in the hands of just a few mutual funds, banks, and corporations. This is the first clear picture of the global concentration of financial power.

Common Sense 2009 … This article from Larry Flynt! is amazing. He’s been attacked for years for his free speech as the founder of Hustler. Now he’s hitting back. He writes “The American government — which we once called our government — has been taken over by Wall Street”

Russian Professor Igor Panarin says that events are continuing to confirm his doomsday prediction first made over 10 years ago, that the United States will completely collapse like the Soviet Union before the end of 2010, and warns that the chaos could begin to unfold in as little as two months.

Back in April of 2008 Panarin began very publicly predicting the collapse of the US, Saying:

the financial crisis may split the United States into six entities.

Which might spring a civil war, and slowing would return America to resemble the map of 1865. Even a year ago Americans who reported on Panarin’s predictions laughed and turned the other way. The White House Spokeswomen at the time Dana Perino said she was perplexed and declined to comment.

But now as Obama’s approval rating is slipping fast, It might be time to listen a little closer to what Panarin has to say. Below is what Panarin predicts the Us could look like in a few years.

Panarin’s impression of Obama is that he’s a great talker, but that’s about it. Obama may just be the mouth piece to keep everyone calm until they realize that it’s too late and the collapse is already started. Once people realize that Obama if just trying to keep the peace and he has lead them to the slaughter it will be like an explosion.

Panarin blames the collapse on a political elite that implements an absurd and aggressive policy that aims to create conflicts around the planet.

“In my opinion, the probability of the US ceasing to exist by June, 2010 exceeds 50%. At this point, the mission of all major international powers is to prevent chaos in the US,” Panarin concluded.

Here is a first glimpse of Alex Jones’ most powerful film yet, to be titled ‘Fall of the Republic: The Presidency of Barack Obama.’ The globalists want the Republic to fall, and they are trying to use their newest, and slickest ever puppet to destroy the last vestiges of America’s freedom, Constitution and economy, all while helping the bankers loot the country clean. But this film shows how we can turn it around, and restore all that was good and right in our nation.

Thanks to Ron Paul and The Campaign for Liberty, the nation is finally talking about the FED. HR 1207 & S 604, If you haven’t read them I would encourage you to do so. Then Contact your representative.

I emailed both my Senators this morning to ask them to co-sponsor the Senate version of the Audit The Fed Bill. If you haven’t signed the petition go here, if you haven’t emailed your representative go here.

You may think an Audit of the FED is no big deal, but they have hired a PR firm to smooth their image with the public. Plus they are releasing all kinds of political propaganda like this.

The U.S. Federal Reserve on Thursday launched a robust defense of its independence and warned that efforts in Congress to put monetary policy under political sway would hurt the economy …. From Reuters